Amid the ongoing exercise of the committee formed for the merger of FMC (Forward Market Commission) and SEBI (Securities & Exchange Board of India) Ramesh Abhishek (IAS:BH:1982) will mark as the last Chairman of FMC. He was appointed as FMC’s interim chairman after B C Khatua’s tenure came to an end in 2011. Further he was appointed as regular Chairman of FMC on Sept 24, 2012.
Abhishek (waiting in the wings for Secretary Empanelment) was given three months extension beyond January 08, 2015. Again on April 14 he got another three-month extension as FMC Chairman beyond April 08 or till merger of FMC with SEBI or until further orders, whichever would be earliest.
A committee headed by Ajay Tyagi (IAS:HP:1984), Addl Secretary, Dept of Economic Affairs, is working to settle several intricate aspects and critical issues towards the merger of FMC into SEBI, the market regulator.